What is employee recognition? (600-800 words)
- General overview
- Who gives recognition?
- Top-down recognition
- Manager to employee
- Company to employee (ex: company-wide awards like Employee of the Month)
- Peer recognition (co-worker to co-worker)
- The TINYpulse Employee Engagement and Organizational Culture Report found that 58% of the happiest employees will recognize and encourage their peers’ success when given tools to make it easy.
- Despite that importance, only 36.8 percent of organizations are using employee recognition software.
What is the purpose of employee recognition and why is it important? (1600-1800 words)
- Build a positive work environment
- According to Office Vibes’ pulse survey data, Recognition Frequency and Happiness at Work are the two strongest correlating engagement metrics. People want to feel appreciated for their efforts, and the frequency at which they receive this recognition is directly tied to their levels of happiness. But that’s not the only thing that regular recognition impacts for employees. We also see a strong correlation between employees’ satisfaction with recognition frequency and feeling that work is fulfilling (officevibe.com)
- Reduce employee turnover and improve retention
- Companies that score highest for building a “recognition-rich culture” have 31% lower turnover rates than their peers.
- Improve employee engagement
- How does recognition impact employee engagement?
- 58% of employees say employee recognition is how leaders could do more to improve employee engagement. (proofhub.com)
- Boost productivity
- 69% of employees would work harder if they felt their efforts were better appreciated (proofhub.com)
- According to Badgeville , 40% of employees who don’t feel meaningfully recognized will not go above their formal responsibilities If you’re going to praise your employees, make sure that recognition is genuine and back it up with facts.
- 37% of respondents said that more personal recognition would encourage them to produce better work more often.
- According to Stajkovic and Luthans (1997), there are three types of positive reinforcers that result in an increase in performance-related behaviors when contingently administered: pay, performance feedback and social recognition .
- Appreciation of work done improves the productivity by 86.4%
- Boost morale and employee happiness
- Research shows that 86 percent of employees say recognition makes them feel happier at work.
- Drive organizational alignment by promoting core values
- Importance of core values, stats
Breaking down the different types of employee recognition & rewards
- Who should give recognition? (we discuss this briefly earlier in What is Employee Recognition?)
- Top down
- Manager to employee
- Company to employee
- Peer to peer
- When should recognition happen?
- Spot bonuses
- Reward ideas